Woodline Partners LP Makes New $2.44 Million Investment in Baker Hughes (NASDAQ:BKR)

Woodline Partners LP acquired a new position in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 59,425 shares of the company’s stock, valued at approximately $2,438,000.

Several other hedge funds also recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC lifted its position in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the 4th quarter worth about $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Baker Hughes in the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes in the 4th quarter worth about $47,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR opened at $36.74 on Friday. The firm’s 50 day moving average is $38.72 and its 200-day moving average is $41.98. The stock has a market capitalization of $36.40 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.50%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKR. Royal Bank of Canada cut their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Benchmark reiterated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Morgan Stanley cut their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.